Market fundamentalism

Market fundamentalism is the belief that free markets, with minimal government intervention, are the most efficient way to allocate resources and promote economic growth. Proponents argue that markets naturally balance supply and demand, leading to optimal outcomes, and that government interference often causes inefficiencies. Critics, however, contend it overlooks market failures and social inequalities. Essentially, market fundamentalism trusts that leaving economic activities largely in private hands and trusting market forces will lead to the best results for society, emphasizing individual choice and competition over regulation and government programs.